tv [untitled] September 3, 2012 11:37am-12:07pm EDT
well china actually has indicated their support of the european union. obviously merkel has been meeting with chinese leadership over there and they have announced new deals to invest in each other's countries china has said that they will continue to buy euro bonds. buying jet airplanes and whatnot i think that they recognize that. the world economy can't afford for the eurozone to disintegrate and so i think that china will play a role in trying to maintain a stable world order. whether the growth rates will continue to stagnate or down the road remains to be seen. but i think. what we're seeing is that the global economy is extremely integrated
it's really impossible to isolate them at this point and in regards to the asia pacific you may call the china club but frankly it's the asia club because all these countries have companies that have such enormous investments in each other's countries that the. asian go but there are countries in the western hemisphere that also but you're saying they're not going to play much a role absolutely this is why i'm saying that the world is very integrated to try to isolate them and say well is it's just the asia pacific region or european region or the americas it's really not quite fair because china has joined this small group of nations that has interest throughout the world and therefore. it is like the united states in that way where it you know cannot say that they can
ignore other parts of the world well i mean i'm ignoring you know i want to really point out something to bill i mean russia is looking more to the east now because of the problems in the european union. i think the importance of this apec meeting is that it's. russia's pivot to asia which we're trying like america is part of it. is real russia is making huge investments in. port facilities where where. there won't be ice all winter. it's building roads and railroads and making a huge commitment and and the structure so much. will show this off. very little else will be accomplished. but
this this is very important and will bring consequences but what do you think about that because you know russia's turnover and effectuate is about one point five percent of our total i guess small yes minuscule yeah well i mean ok another way to look at it and i want to follow up with and mentioned earlier yes the world is getting more and more interdependent and interconnected that can be positive but it can also be indicative of the positive part of it is that. have in the last decade or so will be going to me is that relatively healthy until the lehman collapsed in the fall of two thousand and eight so it's all because of the sort of open and market based kind of an economy in support. many countries are doing and going to the trade liberalization and so that helps the world economy but when you are more interconnected when you are more in the dependent if one or two members contagion contagion i'm talking with contagion and
it is happening now in fact two days or i'm sorry i suppose not to see i mean we have a. finance minister meeting that i'm attending here and the tone is pretty clear that the. the world economy is not in a good ship at this moment now the question here is that to what extent that will affect it back members especially the asian members because we all know that. doing relatively well compared to the rest of the world that's way now the world is experiencing what is called the double digit growth in with the growth in the industrial countries has been slowing down but the growth in asian countries are relatively strong so the question here is that will the contagion of what happened in europe for example and also in the us to some extend the slowing down of the u.s. economy could affect the asian members of the that the answer is yes and at least there are two channels of contagions one is the what they call the real sector
channel to trade and this happens especially in export oriented asian economies like china you know malaysia thailand and so forth you can see immediately their export drop because the. prime markets for these economies are the g two i.e. euro eurozone areas as well as in the u.s. so when your prime markets are in trouble like what we are observing now naturally eureka export is also affected and then your economy is affected. the second channel is financial channel and it is happening quite quite significantly now if you look at the actually in state in many of the asian countries now it's so full of title because of the deal leveraging off many banking sectors in in europe and so what so what i'm trying to say here is that as the world economy is getting more and more interdependent and interconnected then many policymakers in all countries
has to be more aware in themselves their contagion the risks of the contagion and from that standpoint i think russia is realizing that the connection with asia is getting more and more important especially in the coming years and this is the reasons why they put special in serious effort in themselves the more integrated with the east asian parts of the world to go with the winners are saying well you know but also as i said earlier they have to be aware of the potential contagious or i'm going to jump in here folks we're going to go to a short break and after that chopper it'll continue our discussion and expect our. education. system. to. their childhood was overshadowed by this tragedy. they still feel the
with max concert for a no holds barred look at the global financial headlines kaiser report. secret laboratory to mccurry was able to build the world's most sophisticated robot which fortunately doesn't do anything turns mission to teach creation why it should care about humans and world this is why you should care only. and. welcome back to. talking about. economic cooperation.
ok again i'd like to go back to you in new york we looked we've talked about interdependence here and i think we all agree with that but there's a lot of conflicts within a pick itself a lot of the countries you know can we look at china we look at japan korea philippines exception ok how are they going to work this out or can apec help. well this is definitely a tricky situation because these countries have historically lots of tensions from past wars colonial behavior. has caused deep resentment and these countries need to figure out how to put that aside and realize need to move forward the way that the european countries were able to put aside their differences and join and create the eurozone this is obviously a challenging matter as many diplomats will understand but with deeper economic ties that's certainly one way to begin conversations. and then they need to
understand that they would be much stronger and they would all benefit if they can hang together as opposed to hanging apart which the european nations understand ok . what about that i mean is this organization going to help alleviate those differences the very real differences and their flaring up right now. well i think the economic ties do help in the conversations do help but the fundamental problem is. governments that are weak domestically and therefore. are taking nationalistic actions and are unwilling to step on. local governments and citizen groups that that exacerbate conflict you've got a very weak government and japan they're always afraid of of. being
the latest prime minister to go they've had six in five years and. people are always looking. for a way to reassert. japanese. leadership and national identity and. the right wing has been successful in and in pushing some of these nationalistic actions governor ishihara for instance wanting to privatized the the same kaku as. a new a new foreign minister from the democratic party of japan breaking the agreement since nine hundred seventy eight that they would not arrest the chinese fishing boat captains they would just chase them out. a weak.
leadership before the transition and south korea. wanting to. strengthen itself at home by having the president. talk to question while and that's just putin with japan. and in china a government which when it was strong when leaders were strong settled twelve to fourteen land border disputes to the satisfaction of its neighbors. lately facing a transition wanting to get. its factions key people into place for next year. has given in to statements by a local general and so on what do you think about that well financed business trump politics is built was talking about i mean what's the or is there a ratio you see. yes look at what happened in the past yes usually
the economic. help sort of the gate what if it but if you're getting worse now not better well yeah that exactly what i'm saying i don't know what that will be the end outcome but in the meantime i think. politicians at and as well as policymakers in the regions realize that do we need to go east by strengthening the economy companies but what is also important is that. impact is one example of the economy corporations at the end of the day is clearly the national policy so i fully agree with bill at the end of the day is to be the individual can but you're only spent earlier if this is an opportunity as well you're going to miss this opportunity for greater integration no i don't think so i think they realized today it's very clear all the finance minister of the twenty one countries confirm that they need to even crease and to strengthen the economy corporations now that
doesn't mean that all the types of conflicts will go away no but in the meantime while they are trying to do all kinds of means the economic operations will be strengthened because they believe that will help ok and if i go back here i mean one of the things we haven't talked about here is the america's role in all of this and it is in the organization and there will be a lot of countries all say well we want the americans there because they can mediate these differences ok because there's a lot of our guys in this organization with the americans i mean is that one of the reasons why they have a little bit more comfort because you know when you look at these conflicts the united states has its navy it to tens some would argue that america's throwing gas on the fire and this killing more conflict. because if you look at china's stance they would say america is almost encouraging japan's bad behavior in some of these island disputes
because japan feels that the u.s. will come to the rescue no matter what they do and so so it depends it's i would say it depends on who you ask whether america's. involvement is beneficial or not. but i would say. it's clear that the u.s. . wants to be involved it's clear that it actually benefits to us if there is tension because. when they play countries against each other it's acts as a destabilizing. acts as a destabilizing force so that no one area will be able to challenge the u.s. and therefore us can remain the superpower when all these conflicts happen in other parts of the world and u.s. is lucky in that it is completely buffeted by two large oceans and has you
know very friendly relations with its two neighbors canon mexico and so this way. you know if there is conflict in the pacific this will enable us to maintain its leadership position for a very long time if if the asian countries can't work out their differences if they can't work out their differences then we will continue to see american hegemony in the pacific disagree with that statement. i agree that it's worked what's happened is that the. countries on china's perforating have basically align themselves more with the u.s. because of these conflicts and also want to agree with and the. let me put it is the same thing as i lay different way the american narrative that all these
problems are caused by the rise of china and by. chinese assertiveness. is is worsening the conflict and not helping it china is overreaching but japan is overreaching and and the philippines and vietnam are overreaching and by a by a not playing a referee's role instead by saying one side is always right and the other side is always wrong the u.s. the u.s. is polarizing the region and in there in the long run that's not even helpful to to u.s. interests in the us will be better off if if. if these kind of conflicts are. reduced because the risks of increased
polarization are are just too great a clash is possible any time and. the whole virtuous circle of trade benefits and diplomatic convergence can can reverse very quickly even when you think about that. yeah one example in the economic area especially in the trade area is the idea of the d.p.p. transpacific partnership with was really the u.s. i.d.'s really this is one way some people say a trojan horse to. see the thing is if it ok let's think about this with an ideal scenario will be d p p it's not the exclusive kind of sort of corporations but more inclusive meaning that the more members is the better now as it is now unfortunately b.p. is still seen as an exclusive because. there are some members in one of that some
members are really the second largest economy in the world i.e. china is not really a member of it and looking at the conditions and the substance that has been put in the d.p.p. it's unlikely very unlikely that a country like china will join the world mean anything of trying to doesn't join well we can join the world it's just just imagine a club with a great club ok the world supposed to be the world trade club but the second largest economy in the world is not a member of it of course it can it can be there but. it's less meaningful put it that way ok and if i go back here in new york where is your crystal ball here ten years from now well everybody you know with a packers everyone knows that opec is ten years from now what about apec. well i think it depends on on the members and was are. they choose to make it an
important organization or not. institutions are really driven by people and it depends on if the leaders that make up apec choose to create you know proactive productive change with their organisation and use it as a way to help resolve conflicts as a way to increase corporation or they are just using as a way to just represent their own national interest and it probably won't willy wonka's i wonder if and when that on is right you know what it's all about leadership many thanks to my guest today in new york in cambridge and here in the studio and thanks to our viewers for watching us here to see you next time and remember ross talk. to me.
two of the world's largest armies those of india and china unveiled plans towards mall close speed giving western countries on the edge over their growing influence in the pacific. moscow threatens london with the diplomatic repercussions of recalling programs that it's moved to ban dozens of russian officials from entering the u.k. every day let's roll in the mud nazi case where the top lawyer died in custody. and of the long arm of the copyright industry reaches all the way to kumble with one of the fugitive found themselves of pirate bay file sharing site now facing extradition to sweden.
it's eight pm here in moscow you're watching r t live with me to be on with say first the one time regional rivals india and china now want to bring they are music closer together beijing's top military chief is on a visit to new delhi aiming to boost the influence of the two asian giants but news of this alliance is already causing concern across the pacific as our previous three day experience. this is a historic trip for india as the chinese defense minister hasn't visited this country in nearly a decade and the top priority for the list of things to discuss on this trip are strengthening the india china border and promoting a stronger cooperation between the two countries armed forces many people believe that india and china because they have two of the fastest growing economies in the world should be rivals but a lot of analysts i've spoken with have actually said that
a partnership between the neighbors actually makes more sense with forty per cent of the world's population and at a time when these two countries' economies are growing while many of the traditional western powers their economies are decreasing many people say that a partnership between india and china could actually be detrimental to a country like the united states the united states actually exports eight point four billion dollars of arms to india every year and india is actually the number one importer in the entire world many people say the united states is interested in india to counterbalance china's growing influence in this region and to have a strategic ally here when the united states plans to withdraw its troops from afghanistan twenty four team so while other countries might have an interest in what kind of relationship india and china has all signs are pointing to stronger
military and economic ties between the two countries but china india alliances cue to come during america's tightening grasp on south asia as well as to keep the region afraid while major western economies are declining so seize the. historian and research of some of the asian and you with politics. the country whose interest will take a. knock will definitely be the united states if it wants to be who ambitious. in its efforts to and settle china that's what president obama's policy right now seems to be because he has said some time ago that. the united states wants to focus its policy on china which means containment of china so any improvement in relations between china and india would not be welcome in washington however for the beating that summer it's good news for the economies of
china and india will increasingly depend on each other and therefore that the rest of the brics countries. which is a need in minding economic block. i think it is good news that china and india can improve their lives their friends increased trade and at a time when when the economies of the west are suffering. the growing financial clout of asian countries and the global implications that it could have is also the focus of peter lavelle's debate with his guest in cross talk showing at nineteen thirty g.m.t. here's a quick preview. on the eve of the meeting of the pacific economic cooperation regional to what degree is the global economy now centers in the east and so are we living in the pacific century and if we are what does it really mean.
another fly in the ointment for russian british relations in london has apparently followed in washington's footsteps and approved a blacklist of russian officials prevented from stepping on to its all the individuals i accuse of human rights abuses in connection with the case of said again magnitsky a russian lawyer who died in custody while that from r.t. is polly boycott. russia's ambassador to the u.k. wants an explanation from the u.k. foreign office after it emerged in the sunday times that the u.k. home secretary had sent a list of around sixty russian officials to the british embassy in moscow in order to ban them from traveling to russia now the list contains the names of russian judges prosecutors and intelligence officials who london believes are involved in the death of the russian based lawyer so again magnitsky he worked for the london based company hermitage capital fund and he died in pretrial detention back in two
thousand and nine in moscow now that he was jailed for tax evasion and awaiting detention his family you say that you died because of peace and beating and being refused medical care and now the investigation into the case in russia is still ongoing but it's had a big resume right at home and a board earlier the u.s. said that it had also banned around sixty russian officials from traveling to the u.s. speaking often magnitsky is death the van president dmitry medvedev he said that the people who are accused of economic crimes and tax crimes in particular they should not be put into pretrial detention and of course most of this as well as death is a big tragedy but they've called on other nations not to stage a political show regarding the matter and they promised a tough response to any foreign sanctions that could.